Yemen PM seeks WB support for reviving economy

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Yemen PM seeks WB support for reviving economy

[09/05/2017 06:32]

Riyadh, (Saba)- Prime Minister Ahmad Obeid bin Daghr discussed Tuesday with the Country Director of the World Bank for Egypt, Yemen and Djibouti Asa'ad Alam supporting Yemen's legal government to achieve economic revival and efforts for activating the Central Bank of Yemen to realize financial stability and decrease inflation high levels.

The meeting dealt with a number of financial and technical policies to reduce effects of the war in Yemen over Houthi-Saleh's coup against legitimate authority. Future cooperation for supporting reconstruction and current operations of the WB in Yemen in accordance with urgent needs in humanitarian field and emergent assistants were also discussed.

Bin Daghr, who highly valued the WB's support to Yemen to alleviate aftermaths of the war being waged by Houthi-Saleh's militias, reviewed plans and programs of his government during this exceptional period to deal with war's consequences on economic and humanitarian levels.

The decision of the government last September to transfer the central bank to the interim capital of Aden comes after militias depleted its foreign reserve and the move aimed at banning complete collapse of the national economy and its catastrophic affects, said bin Daghr.

He noted that Houthi-Saleh Alliance continue rejection of handing over revenues to the bank and instead used them for what they called war effort to kill Yemeni people, calling the UN, international community and international funds to put pressure on them to hand over revenues so that the legal government preforms its duties to all Yemenis.

For his part, Alam thanked the legal government for paying the postponed funds Yemen is committed to pay, confirming keenness of improving cooperation with the government in reviving program.

Two financial transactions to Yemen have been signed worth USD 280 million; the first 200 million for supporting financial funds and the second 80 million for facing malnutrition in the country, he said, adding that they will be ratified during the forthcoming two weeks.

He noted that the funds of the financial transactions will reach USD 800 million, a fund is not enough in this period but he added that the WB will work with a number of countries to cover Yemen's needs currently and on the future.